Marriott Vacations Worldwide Corp (VAC) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $1.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $1.02. The company posted revenue of $429.95 million in the period, compared to analysts expectations of $438.30 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.
Many Wall Street Analysts have commented on Marriott Vacations Worldwide Corp. Company shares were Reiterated by MKM Partners on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 79 from a previous price target of $77 .
Marriott Vacations Worldwide Corp opened for trading at $68.76 and hit $68.95 on the upside on Wednesday, eventually ending the session at $68.47, with a gain of 0.19% or 0.13 points. The heightened volatility saw the trading volume jump to 5,41,081 shares. Company has a market cap of $1,932 M.
In a different news, on Mar 28, 2016, Lizabeth Kane-hanan (Exec. VP & Chief Growth & Inv.) sold 2,000 shares at $65.19 per share price. According to the SEC, on Mar 14, 2016, Michael E. Yonker (Exec. VP & Chief HR Officer) sold 1,500 shares at $66.22 per share price. On Mar 3, 2016, Dwight D. Smith (Exec. VP & CIO) sold 1,500 shares at $61.40 per share price, according to the Form-4 filing with the securities and exchange commission.
Marriott Vacations Worldwide Corporation is a developer marketer seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands. The Company is a developer marketer and seller of vacation ownership and related products under The Ritz-Carlton Destination Club brand and develops markets and sells residential products under The Ritz-Carlton Residences brand. It has three segments: North America Europe and Asia Pacific. The Company’s brands include The Marriott Vacation Club Grand Residences by Marriott The Ritz-Carlton Destination Club and The Ritz-Carlton Residences. Its products include Points-Based Vacation Ownership Products and Weeks-Based Vacation Ownership Products.